Best Free Scalper EA is One of The Most Successful Free Expert Advisor

Best Free Scalper EA

The logic is very simple but effective - the EA uses breakouts of the Bollinger Bands for entry and exit signals. By our opinion the Bollinger Bands is the best technical indicator ever created - Thank you Mr. John Bollinger! During the years we've tried many other indicators and strategies but the Bollinger Bands has proven itself as the best indicator for scalping the market volatility.

Reasonable stop loss levels varies between 20 and 60 pips. You can use small fixed TP between 4-8 pips, or leave the exit logic to take care of the position.

The exit logic is also based on the BB indicator and it will close the trade even on a loss when the price is near or breaks the opposite BB line. This is commanded by the "BandBreakExit" parameter which works best from minus one to plus one-two.

The EA has high spread protection - this is crucial, because if you use limit orders as example you can't control this and you will take some trades with 10 or even 20 pips spread - one such trade will erase the average profit from 10 good trade as the best average expectancy of this type of trading is 2-3 pips in the best case. This is why we are not using limit orders.

Here are some optimization advises:

  • Do not use genetic algorithm
  • Optimize 2 parameters at once at most - We optimize only one at a time and look for the most logical value
  • Optimize for at least 6 months and at least 200 trades - this is the absolute minimum to avoid curve fitting and get some reasonable parameters which will have at least some chance to be profitable in real conditions.
  • Perform at most 5 optimization cycles for all parameters.
  • Use reasonable large optimization step - as example if you optimize stop loss, reasonable step would be 5 pips not 1 pips - about 5% of the reasonable optimization range of the parameter.
  • We are using M1 open price test for all of our EAs - it is good enough.
  • We are not using tick tests as they are too unreliable.

And now the fun part: By using this EA, you acknowledge that you are familiar with all risks and that you are solely responsible for the outcomes of your decisions. We accept no liability whatsoever for any direct or consequential loss arising from the use of this product. It's to be noted carefully in this respect, that past results are not necessarily indicative of future performance.

Best Free Scalper EA Live Performance

Best Free Scalper EA
You can check Best Free Scalper EA Live performance in FULLY VERIFIED MYFXBOOK ACCOUNT by clicking over the charts.

BF Scalper EA Settings

Here are the Best Free Scalper EA parameters

  • Magic - it is extremely important to keep this different for all robots
  • EA_Comment - The text which will be set as trade comment.
  • MaxSpread - maximum allowed spread
  • Slippage - maximum allowed slippage
  • TicksTrade - if it is "false" the logic will be executed at the beginning of M1 bar, otherwise it will calculate and trade on a new price tick. The TicksTrade is potentially more profitable, but I prefer to use M1 open for testing and optimizations as this is the only reliable method for EA testing and tuning.
  • StealthMode true/false - a mode which conceals stoploss and takeprofit levels in program logic, making them invisible to brokers. If you use this mode, the stoploss and takeprofit orders are not located in the trading server. In this case, if your trading terminal is not connected, or the robot is not working, your orders would not be protected. However, we are strongly encouraging using the StealthMode, because in some cases the visible StopLoss levels could be attacked tendentiously by algorithms that some unethical brokers could use.
  • EmergencyStopDist - this parameter ensures a second level of protection, when StealthMode is used. At values greater than zero it activates a second level of true (Emergency) StopLoss on a greater distance then the virtual hidden StopLoss is located. In such case the value of the new emergency StopLoss will be the sum of the EmergencyStopDist value plus the value of the hidden StopLoss.
  • MinEquity - minimal equity need for trading
  • StopLoss - stop loss value in standard 4 digit pips
  • TakeProfit - take profit value in standard 4 digit pips
  • MarketExitProfit -
  • BandPeriod - the period of the Bollinger Bands indicator/li>
  • BandBreakEntry - breakout in 4 digit pips of the BB line to initiate an opposite trade (the value could be negative)
  • BandBreakExit - breakout in 4 digit pips of the opposite BB line to initiate closing of the existing trade (the value could be negative)
  • UseTrendFilter - change this to "true" if you want to trade only in the direction of the trend defined by the two MAs below. If you use the trend filter for Asian session scalping you will get higher profit factor, but less trades. Generally, you do not need trend filter for Asian session scalping, but if you want extra safety it will help.
  • MA_Fast_Period - period of the fast moving average
  • MA_Slow_Period - period of the slow moving average
  • MA_Trend_TF - timeframe of both MAs
  • TimeRestriction - by default this is "true" so the EA will trade only in the hours listed below. If you do not want to use the time filtration, change this parameter to "false".
  • CTHour1 - 6 - six possible slots for trading hours. Values 0 - 23 activate the slot. Enter a large value like 55 to deactivate the slot. Best results from our experience are achieved 21 and 22 GMT. You absolutely must adapt this hours to your brokers GMT shift. I am using Alpari data for all our tests, because they have the best long-term real history data in the data center. So for Alpari the trading hours are 23 and 0 as the GMT shift is +2 for Alpari.
  • FridayFilter true/false -
  • FridayEndHour -
  • WednesdaySwapFilter - true/false - The Wednesday swap filter cancels all trades in Wednesday evening in the direction of the negative swap, if the swap is worse than MaxNegSwapPips parameter.
  • MaxNegSwapPips - minus 0.5 pips seems reasonable threshold
  • RolloverTimeFilter true/false - switches on/off the rollover time filter
  • MinutesBefore - minute time interval before midnight in which all trading operations will be canceled
  • MinutesAfter - minute time interval after midnight in which all trading operations will be canceled
  • x_MaxSpreadFilter - switches on/off the rollover additional spread filter
  • x_MaxSpread - multiplies the initial MaxSpread, which will be allowed in general, before canceling all trading operations. As example if the MaxSpread is 6 and x_MaxSpread is 2, all trading operations will be canceled if the spread exceeds 6x2=12 pips.
  • RecoveryMode - this parameter activates the drawdown recovery. Works when AutoMM>0
  • FixedLots - fixed trading lots when AutoMM=0
  • AutoMM - value greater than zero activates proportional money management, as example AutoMM=5 means 0.05 lots at 1000 account.
  • AutoMM_Max - maximum allowed value of the proportional money management when RecoveryMode is used.
  • MMTrades - number of history trades on base of which the drawdown of the RecoveryMode function is calculated
  • RecoveryFactor - drawdown positive compensation in percent of the drawdown
  • RecoveryMultiplier - trading volume multiplier in RecoveryMode
  • LossPausePips - pause after loss algorithm - loss in pips
  • LossPauseHours - pause after loss algorithm - pause in hours after loss greater than LossPausePips

NOTE: Some of the parameters described in this section can be hidden or locked(disabled) in the free version. They are unlocked and available in the PRO version. For a complete list of parameters and functions, please check the BF Scalper PRO: https://www.fxautomater.com/forex-robots/bf-scalper-pro

Best Free Scalper EA Backtest Result

Below you can check the backtest result of our forex robot - BF Scalper - on the following currency pairs EURUSD, USDCAD, EURCHF, USDJPY, GBPCAD, GBPUSD, USDCHF

EURUSD

Period: 1999-2018

Risk: Fixed Lots

Deposit: $1000

Best Free Scalper EA Backtest on EURUSD

USDCAD

Period: 1999-2018

Risk: Fixed Lots

Deposit: $1000

Best Free Scalper EA Backtest on USDCAD

EURCHF

Period: 1999-2018

Risk: Fixed Lots

Deposit: $1000

Best Free Scalper EA Backtest on EURCHF

USDJPY

Period: 1999-2018

Risk: Fixed Lots

Deposit: $1000

Best Free Scalper EA Backtest on USDJPY

GBPCAD

Period: 2007-2018

Risk: Fixed Lots

Deposit: $1000

Best Free Scalper EA Backtest on GBPCAD

GBPUSD

Period: 1999-2018

Risk: Fixed Lots

Deposit: $1000

Best Free Scalper EA Backtest on GBPUSD

USDCHF

Period: 1999-2018

Risk: Fixed Lots

Deposit: $1000

Best Free Scalper EA Backtest on USDCHF

.Set Files For Each Supported Currency Pairs

The default settings of Best Free Scalper EA are optimized for GBPUSD currency pairs. Below you can find invidual .set files for other supported currency pairs. If you want to use the robot on other pairs please download the .set files from below list and load them correctly in the robot settings.

BF Scalper EA is COMPATIBLE WITH MAC OS and Windows OS!

BF Scalper EA is compatible with MAC OS and Windows OS

BF Scalper EA is compatible with the most well known and used Operating Systems Mac OS + Windows OS. Our developers have been working very hard to adapt BF Scalper EA to be compatible with all popular Operating Systems. Mac OS and Windows are the most popular OS around the world and therefore we have developed BF Scalper EA to be compatible with them.


BF Scalper EA

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Disclaimer U.S. Government Required Disclaimer – Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Clearly understand this: Information contained within this course is not an invitation to trade any specific investments. Trading requires risking money in pursuit of future gain. That is your decision. Do not risk any money you cannot afford to lose. This document does not take into account your own individual financial and personal circumstances. It is intended for educational purposes only and NOT as individual investment advice. Do not act on this without advice from your investment professional, who will verify what is suitable for your particular needs & circumstances. Failure to seek detailed professional personally tailored advice prior to acting could lead to you acting contrary to your own best interests & could lead to losses of capital.

*CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.

By using FXAutomater's products, you acknowledge that you are familiar with these risks and that you are solely responsible for the outcomes of your decisions. We accept no liability whatsoever for any direct or consequential loss arising from the use of this product. It's to be noted carefully in this respect, that past results are not necessarily indicative of future performance.